Industry

John David “J.D.” Joyce and his team moved to Wells Fargo Advisors Financial Network in Houston on May 23.

Advisors with at least some technology integration can perform a whole lot better than RIAs with none, according to a report from Aite Group, the Boston-based research and consulting company.

BNY Mellon Investment Management has hired Andrew Provencher as Head of U.S. Retail Sales, a newly created role in which he will be responsible for leading all sales and relationship management through the Dreyfus platform focusing on national wirehouse firms, Registered Investment Advisors, independent broker-dealers and private banks.

RCAP CEO Nick Schorsch says the deal could be a "tipping point" in a new wave of private equity investment in independent broker-dealers.

Morgan Stanley Chief Executive Officer James Gorman said his firm’s wealth-management unit can earn a pretax margin of more than 23 percent by 2015 as interest rates and stock markets climb.

Morgan Stanley has a plan to boost return on equity in fixed-income trading above its cost of equity after four of the five units failed to meet that metric last year, Chief Executive Officer James Gorman said.

Royal Bank of Canada, the country’s largest lender by assets, will consider acquisitions of as much as $4.9 billion as it seeks to expand its wealth- management unit, Chief Financial Officer Janice Fukakusa said.

UBS gave its force of about 7,000 U.S.-based advisors new compensation incentives to use financial plans with clients this year. The plan increases the pay their financial advisors receive when creating those plans, and has resulted in an uptick in their adoption so far this year

Morgan Stanley has turned to Wells Fargo and UBS for new advisor hires for the second time this month.

A $1 million producer has jumped from Morgan Stanley to Raymond James in Columbus, Ga.